Ropes & Gray Archives - Page 2 of 3

Franklin BSP Lending and Franklin BSP Capital Acquire Encina Equipment Finance

Franklin BSP Lending and Franklin BSP Capital, business development companies advised by affiliates of Benefit Street Partners, acquired substantially all of the equity interests of Encina Equipment Finance.

Golub Capital Provides Debt Financing to Support Northleaf and AVALT’s Acquisition of AMAROK

Northleaf Capital Partners and AVALT acquired AMAROK, a provider of contracted perimeter security infrastructure solutions in the United States. Golub Capital provided debt financing for the transaction.

JPMorgan Chase-Led Syndicate Provides $10B to Support McAfee Acquisition

McAfee, a global provider of online protection, entered into a definitive agreement to be acquired by an investor group, which obtained a commitment from a JPMorgan Chase Bank-led syndicate for nearly $10 billion in debt financing to support the transaction.

JPMorgan Leads $400MM in Financing for Healogics

JPMorgan’s strategic situations division led a $30 million revolving credit facility and a new $370 million first lien term loan for Healogics, a provider of wound care. Healogics also secured $240 million in equity investments.

BofA Securities Supports Platinum Equity’s Acquisition of Cabinetworks

Platinum Equity entered into a definitive agreement to acquire Cabinetworks from American Industrial Partners, GIC and other equity holders. BofA Securities will lead debt financing to support the acquisition.

Annaly Sells Commercial Real Estate Business to Slate for $2.33B

Annaly Capital Management entered into a definitive agreement to sell its commercial real estate business to Slate Asset Management, a global investment and asset management firm focused on real estate. The transaction is valued at $2.33.

PNC Delivers $135MM ABL to Covia in Chapter 11 Emergence

PNC delivered a $135 million asset-based loan to Covia in the company’s recent Chapter 11 emergence. As of emergence, Golden Gate Capital invested in Covia and is now the largest individual shareholder.

SPCM Provides Exit Financing for Centric Brands’ Chapter 11 Emergence

Centric Brands emerged from voluntary Chapter 11 proceedings. Sound Point Capital Management provided exit financing to the company, while Ropes & Gray, PJT Partners and Alvarez & Marsal served as legal, financial and restructuring advisors, respectively.

Czyzyk Joins Ropes & Gray’s Business Restructuring Group in London

Ropes & Gray appointed Matthew Czyzyk as a partner in its business restructuring group. Czyzyk has experience acting for debtors, banks and alternative capital providers.

June 4, 2020 David Djaha | Gregg Galardi | Matthew Czyzyk | Ropes & Gray | Will Rosen Phil Neuffer

Blackstone, Ares, HPS to Provide $435 DIP to Centric Brands

Centric Brands entered into a restructuring support agreement, led by certain funds managed by Blackstone, Ares Management, and HPS Investment Partners, to recapitalize the company and provide $435 million in debtor-in-possession financing.

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